May 18, 2023
2 mins read

Cabinet approves deal between CCI, Egyptian Competition Authority

The agreement, through the exchange of enforcement initiatives, would enable CCI to emulate and learn from the experience and lessons of its counterpart competition agency in Egypt…reports Asian Lite News

The Union Cabinet on Wednesday approved the signing of memorandum of understanding (MoU) between the Competition Commission of India (CCI) and Egyptian Competition Authority (ECA). The Union Cabinet meeting was chaired by Prime Minister Narendra Modi.

According to a statement by the ministry of corporate affairs, the MoU envisages promotion and strengthening of cooperation in competition law and policy through exchange of information, and sharing of best practices as well as through various capacity-building initiatives. The MoU also aims to develop and strengthen linkages between CCI and ECA, and learn and emulate from each other’s experiences in the enforcement of competition law in their respective jurisdictions through experience sharing and technical cooperation.

The agreement, through the exchange of enforcement initiatives, would enable CCI to emulate and learn from the experience and lessons of its counterpart competition agency in Egypt which would help improve enforcement of the Competition Act, 2002, by CCI, according to the ministry of corporate affairs. The resultant outcomes would benefit consumers at large and promote equity and inclusiveness.

The statement said, “Section 18 of the Competition Act, 2002, permits CCI to enter into any memorandum or arrangement with any agency of any foreign country for the purpose of discharging its duties or performing its functions under the Act.”

Accordingly, the present proposal relates to signing of MoU between CCI and EGA.

Meanwhile, Indian Army Chief General Manoj Pande and his Egyptian counterpart Lt General Osama Ahmed Roshdy Abdullah Askar on Tuesday discussed ways to strengthen India-Egypt bilateral defence cooperation.

During the interaction, a book “Indian Army in Egypt” was also released to commemorate the service and sacrifice of Indian soldiers in Egypt.

The Indian army chief also interacted with the Egyptian Chief of Operations Lt General Ahmed F Khalifa.

Manoj Pande was on a three-day visit to Egypt to enhance bilateral defence cooperation and strengthen ties in areas of mutual interest of both countries.

India and Egypt celebrated 75 years of establishment of diplomatic relations this year.

India and Egypt enjoy warm and friendly relations marked by civilizational, cultural and economic linkages and deep-rooted people-to-people ties. The multifaceted relationship is based on shared cultural values, commitment to foster economic growth, collaboration in the fields of defence and security and convergence on regional and global issues. The two countries work closely at multilateral and international platforms.

Most of the current defence cooperation between India and Egypt is determined by Joint Defence Committee (JDC) activities. JDC meetings have been held alternately in either country, followed by exchange activities. In addition, several courses, exercises, ship transits, aircraft transits and defence exhibitions also contribute to defence cooperation between India and Egypt. (ANI)

ALSO READ: Jammu police issues advisory ahead of G20 meet

Previous Story

Partnership with India key to tackle China challenge: US

Next Story

G20 Summit in Kashmir set to give massive fillip to tourism sector

Latest from Arab News

GCCs Fuel India Reskilling

GCCs are expected to contribute 2 per cent of India’s GDP and generate 2.8 million jobs by 2030, according to the Association of Chartered Certified Accountants (ACCA) India’s reskilling market is witnessing

Egypt, Palestine PMs Discuss Gaza

Palestinian Prime Minister Mustafa highlighted that the Arab-Islamic peace plan stresses reconstruction of Gaza without displacement of its people Egyptian Prime Minister Mostafa Madbouly and his Palestinian counterpart Mohammad Mustafa met in

Pezeshkian’s Pak Pitch Begins

Pezeshkian’s visit marks the second time an Iranian president has visited Pakistan in less than two years Iranian President Masoud Pezeshkian arrived in Pakistan on Saturday for a two-day official visit, marking

India, Syria Eye Closer Ties

In addition to the meeting with the Syrian Foreign Minister, the Indian delegation also held discussions with Syrian Health Minister Musab Al-Ali on Monday….reports Asian Lite News An Indian delegation, currently on
Go toTop

Don't Miss

Gill Makes Cut

Batting at number four in his first series as captain,

B’desh, Indian scholars slam Tripura govt claiming in 1971 war memorials

The TSSK and various other organisations have also demanded retune